GCash Launches GoPay, Philippines’ 1st Mobile Money QR Payment

Public Company Information:

Leading mobile money service provider GCash launched the nation’s
first QR payment via smartphone, a move that is expected to change the
landscape of how Filipinos usually pay for their purchases.

Dubbed as “GoPay,” it is the newest feature within the GCash app
that allows customers to use their GCash account to pay for goods and
services by simply scanning QR codes displayed by merchants and
establishments. For the consumers, this eliminates the hassle of
bringing money, waiting for change, or getting into misunderstandings
over payments. Merchants, on the other hand, would no longer need
expensive machines to process mobile money transactions but only QRs
with a unique code that is linked to their GCash wallet.

By making QR codes available to anyone, even to ambulant vendors and
sari-sari store owners, GCash will be paving the way for a cashless
society that results to faster, more convenient, and secure
transactions for both merchants and consumers.

"Our goal has always been to make finance more inclusive by
building a cashless ecosystem. GoPay QR payments solution will close
the loop and drive merchants accepting GCash payments. We plan to
extend this service from all types of retailers nationwide down to our
favorite fishball vendor," said John Rubio CEO and President of
Mynt, a subsidiary of Globe Telecom dedicated to developing payments
solutions using GCash.

JM Aujero, Mynt Merchant Acquiring Head added: “With GoPay QR,
consumers don't even need to bring cash when they go shopping or when
they eat out. It is the best option for people who do not want to use
credit cards but are either wary of having cash with them due to
safety reasons or just want the convenience that mobile money offers.”

To use GoPay, a customer with an iPhone or an Android smartphone
just needs to download or update to the latest version of the GCash
app, register for an account, and fund GCash wallet at any of over
12,000 GCash partner outlets nationwide. Once done, the customer has
to open the GCash app and swipe left on the page. The GCash app will
bring up the phone’s camera, at which point the customer has to “scan”
a partner store’s QR code and enter the amount to be paid.

GoPay will be rolled out within the next few weeks at select partner
stores. Its introduction is in line with the thrust of Ant Financial,
the parent company of Alipay and strategic partner of Mynt, to
accelerate financial inclusion and upgrade payment services in the
Philippines. Alipay popularized QR code payments in China.